THE administration is anticipating an 8 percent increase in revenue projections for fiscal year 2003, it was learned.
This would mean an additional $15.69 million for the government which expects to collect $193.369 million in FY 2002.
Gov. Juan N. Babauta mentioned the projected revenue increase in his memorandum to Cabinet secretaries and activity heads.
However, Babauta clarified that despite the anticipated increase, the administration will continue with its cost-cutting measures.
“Revenue projections for fiscal year 2003 reflect an increase of 8 percent from current levels,” he said. Despite this anticipated increase, the governor added,“every effort must be made to avoid spending beyond our resources. Your understanding and cooperation regarding this decision are appreciated.”
The administration’s fiscal year 2003 budget proposal is expected to be submitted to the Legislature on or before May 1.
Cabinet secretaries and agency heads have until April 5 to submit their budget requests to the Office of Management and Budget.
Babauta assured the department and agency heads that an OMB analyst “will be available” to assist them.
Babauta also requested them to appoint a staff who will serve as a “point of contact” for all budget matters.
This will ensure open communications between the Office of the Governor, OMB and the different offices, Babauta said.
The CNMI government’s spending level is still based on the budget passed in 1998, which was the last time a general appropriations measure became law.
